DN Agrar - 175 million lei turnover last year, up 16%

Livestock farm operator DN Agrar achieved a preliminary consolidated turnover of 175 million lei last year, equivalent to a 16% increase compared to 2023, according to an announcement by the issuer from late last week published on the Bucharest Stock Exchange (BVB) website.

"The result was supported by the increase in the selling price of milk by 2.8%, as well as the 14% increase in the quantity of milk delivered compared to 2023. Compared to the published budget for 2024, the preliminary (unaudited) consolidated turnover of DN Agrar exceeded the initial estimates by 14%," the BVB report states.

According to the document, last year, the company reached an important milestone in terms of deliveries, by exceeding the target of 60 million liters, delivering approximately 63 million liters of milk. For the first nine months of last year, DN Agrar reported a consolidated turnover of 126.8 million lei, up 9.3% compared to that in the period January-September 2023, while total operating income amounted to 193.5 million lei, up 7%. Total operating expenses were 161.9 million lei, up 9.6% compared to those in the period January-September 2023, so that operating profit amounted to 31.5 million lei, down about 5% compared to the result in the first nine months of the previous year. From the financial activity, the livestock farm operator recorded a loss of 5.7 million lei, while the group's net profit for the first nine months of last year was almost 21.1 million lei, 5.6% below that in the period January-September 2023.

For 2024, DN Agrar has budgeted total operating income of 237.8 million lei and a net profit of 30 million lei, about 30% above that in 2023. The company will present its preliminary financial results on February 27.

DN Agrar was founded in 2008 by Jan Gijsbertus de Boer and operates in central Transylvania, in the counties of Alba, Sibiu and Hunedoara. The issuer's main areas of activity are animal husbandry, agricultural plant production, agricultural services, logistics, transport, tourism and business and management consulting services. The DN Agrar Group includes eleven companies, of which four farms whose main activity is dairy cow breeding (Prodlact farm) and cow milk production (Cut, Lacto Agrar and Apold farms). The DN Agrar Group has approximately 300 employees, works over 7,000 hectares of owned and leased land and owns over 15,000 animals, both dairy cows and young cattle.

The company, whose current valuation amounts to approximately 230 million lei, has been listed on the Bucharest Stock Exchange, AeRO market, since February 2022.